A survey looking to assess US consumer behaviour with regard to the choice of online bill payments tools throughout 2008 reveals that most individuals monitor and manage their transactions via free online tools. Moreover, 75 percent of individuals who use the online channel to pay their bills and make online purchases save their electronic transaction receipts and declare themselves directly motivated by keeping close reign on their online payments and purchases.

Thus, the study reveals that due to the current economic downturn, consumers feel the need to exercise a heightened degree of control over the circumstances and the manner in which bills are paid online and over the way in which online shopping and bill payment information is stored. This in turn allows consumers to track their expenses, categorise and evaluate their transactions for tighter budget control. The survey also indicates that over 58 percent of the people who engage in online transactions are over the age of 45 and more than 50 percent of them never pay late fees. Moreover, while the survey indicates that 90 percent of online banking, shopping and bill payment users own credit cards, 47 percent of them carry no credit card debt.

The study also shows that over two-thirds of online consumers use their credit or debit cards to make at least one monthly bill payment, and that overall, online bill payments from card-based payers are to register sustained growth. As a result, the research points out that a niche opportunity emerges for banks and other billing services providers, which can devise products and services targeted at low credit risk customers who pay their bills via credit card but never allow credit card debt to get out of hand.

The survey was carried out by online purchases and bill payment provider Billeo.